Exclusive / Trump-linked investor backs new LNG project in Alaska

An oil and gas executive with links to the Trump family plans to use equipment from a sanctioned Russian gas project to open a major new export terminal in Alaska, he told Semafor. The massive project, dubbed Polar LNG, will eventually require $8-9 billion in investment, CEO Joel Riddle said, adding that the spike in natural gas prices caused by the Iran war is generating “hurricane-force winds behind us to accelerate this project,” which would facilitate the sale of US gas to Asian markets. Polar LNG is seeking permission from the Treasury Department to buy hardware originally destined for Russia’s Arctic 2 LNG terminal, which was sanctioned by the Biden administration; a Treasury spokesperson declined to comment. One investor, Riddle said, is Gentry Beach, a college friend of Trump’s son Donald Jr. who has been pursuing global energy deals through his firm America First Global.